Egypt

AMOC swings to profit

Published on : 2021-04-15

Alexandria Mineral Oils Company (AMOC) achieved a consolidated net profit of EGP 103.312 million in the fiscal year 2020, according to the company’s statement filed to the Egyptian Exchange.

In 2019, the listed company suffered a consolidated net loss of EGP 152.483 million.

AMOC attributed achieving the profit to the cooperation with the Egyptian General Petroleum Corporation in exports.

AMOC announced that petroleum minister Tarek El Molla appointed Ehab Ahmed Abdel Halim as the new chairman and managing director.

AMOC is an Egypt-based company that operates in the petroleum industry. The company specializes in the production of essential mineral oils, paraffin wax and its derivatives, naphtha, and butane, as well as distributes and markets them in Egypt and abroad.

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